Global Isostatic Pressing Market Overview
The key drivers impacting the isostatic pressing market are the speedy adoption of additive manufacturing techniques in the healthcare, automotive, and aerospace industries due to the growing demand for HIP combined heat-treatment processes. There are various benefits of isostatic pressing, such as Uniform strength in all directions, reduced lead times, Low tooling cost, Uniform density, and enhance alloying possibilities, which make them highly suitable for use in large industries like automotive, aerospace, construction, and other are estimated to create market demand in the forecast period. Moreover, the rise in demand for HIP and other heat treatment processes across industries contributes to isostatic pressing market demand in the later years.Whereas with regards to volume, the market was calculated XX Million KiloTons in 2020 and foreseen to grow with a CAGR of XX% during 2021-2027.
According to Value Market Research, the global Isostatic pressing market size was valued at USD 8.38 Billion in 2022 and is estimated to grow at a CAGR of about 8.5% during the forecast period 2022 to 2030.
The increase in demand for increasing demand for low porosity and high-density materials that are important for producing 3D printed parts will likely augment the need for Isostatic pressing in the forecast period. Also, the growing trend of building products at a low cost that has shorter life cycles positively impacts market growth. However, the high initial price of the isostatic press hampers the market in the long run. In addition, the dearth of a skilled workforce is acting as a challenge to the market. Nevertheless, the market trends, such as the surge in the adoption of surgical and dental implants in healthcare sectors globally, might provide considerable opportunities to the market's leading players.
The Isostatic pressing market is widespread, with many local and international players. The market leaders follow diverse strategies to strengthen their market, such as amalgamation, extending product portfolio, acquisitions, contracts, product upgrades to raise their market share globally. The key players in the report are American Isostatic Presses (API), Engineered Pressure Systems (EPSI)., Kobe Steel, Ltd., Bodycote PLC., Fluitron, Inc., Shanxi Golden Kaiyuan Co., Ltd., DORST Technologies GmbH & Co. KG., Nikkiso Co., Ltd., and Pressure Technology, Inc
Global Isostatic Pressing Market Share by Region (Representative Graph)
Analysis by Type:
By type, the report is segmented into hot isostatic pressing and cold isostatic pressing. The cloud deployment of the FSM software segment dominates the deployment type segment with the highest share of 62% in 2020. It is due to the increasing need for hot isostatic pressing in the large-size product manufacturing in several industries, such as precision machine manufacturing, construction, automotive, and aerospace & defense. Moreover, the huge adoption of HIP and HIP systems as it reduces per-unit processing costs and allows densification of powder metallurgy batches and larger products contribute to the growth of the cloud deployment segment.
Analysis by Application:
By application, the report is segmented into aerospace & defense, automotive, pharmaceutical, precision machine manufacturing, energy & power, construction, semiconductors & electronics, and transportation & logistics. The aerospace and defense industries segment dominates the application segment with the highest share in 2020. It is due to the huge adoption of advanced isostatic pressing methods in aerospace industries and the growing use of HIP technology to manufacture commercial aircraft. Moreover, Hot isostatic pressing (HIP) technology is utilized in developing nickel-base superalloy and stainless steel, which has several missile and space vehicle applications in the aerospace and defense industry.
Analysis by Region:
In the regional outlook of the global Isostatic pressing market, the North America region dominates with the largest market share of 75% in 2020. It is due to the mounting demand for hot isostatic pressing products across several industries such as defense and military, automotive, manufacturing, and aerospace, among others. Moreover, the existence of many key players likes Kittyhawk Products, Synertech PM, Quad City Manufacturing Laboratory, and American Isostatic Presses ids contributing to the tremendous market growth across North America.
Market Segmentation covered in the Report:
By Type
- Hot Isostatic Pressing
- Small-Sized Hot Isostatic Pressing
- Medium-Sized Hot Isostatic Pressing
- Large-Sized Hot Isostatic Pressing
- Cold Isostatic Pressing
- Dry Bag Pressing
- Wet Bag Pressing
By Application
- Aerospace & Defense
- Automotive
- Pharmaceutical
- Precision Machine Manufacturing
- Energy & Power
- Construction
- Semiconductors & Electronics
- Transportation & Logistics
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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